KiwiSaver and your first home

You may be able to put some of your KiwiSaver savings towards purchasing your first home. You may also qualify for a KiwiSaver HomeStart grant of up to $10,000.

KiwiSaver first home withdrawal

If you’ve been in KiwiSaver for at least three years and you meet the eligibility requirements, you may be able to withdraw some of your KiwiSaver savings to go towards the purchase of your first home.

You can withdraw everything in your account except:

$1,000; and

Money that has been transferred into your KiwiSaver account from a complying Australian superannuation scheme.

Applying for a first home withdrawal

Check to see if you’re eligible to make a withdrawal:

You need to have been in KiwiSaver or a complying superannuation fund for at least three years.

You’ve never made a withdrawal from KiwiSaver to buy a home or land before.

You intend to live in the home you buy or in the house you’ll build on the land you've purchased.

If your KiwiSaver account is with Kiwi Wealth, find out how much you can withdraw and how to apply by either:

KiwiSaver HomeStart grant

The KiwiSaver HomeStart grant is paid by the government and administered by Housing New Zealand. Eligibility for the grant is determined by Housing New Zealand. You may be able to apply if you’ve been regularly contributing to your KiwiSaver account for at least three years and you meet the eligibility requirements.

If you’re buying an existing home, you could get $1,000 for each year you’ve been contributing, up to a maximum of $5,000.

If you’re buying a new home, a proposed home off plans or a land to build a new home, you could get $2,000 for each year you’ve been contributing, up to a maximum of $10,000.

You can also purchase your first home with your partner, family or friends. If each of you qualify, this means you could get up to $10,000 for an existing home and up to $20,000 for a new home.

Home loan calculators

Talk to a home loan expert - we're here to help

If you're thinking about getting into your first home, you can talk to one of our home loan experts. They can give you obligation-free advice and guide you through the process and the paperwork right to the end.

Our Mobile Mortgage Managers can come and meet you at a location of your choice and our Banking Consultants are available to talk to at your local Kiwibank branch. If you prefer you can also call our home loan team on 0800 000 654 between 8am and 6pm, Monday to Friday.

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This information is of a general nature only and is not financial advice. If you want advice regarding your particular circumstances, you should talk to a financial adviser.

Kiwi Wealth Limited is the Issuer and Manager of the Kiwi Wealth KiwiSaver Scheme (the Scheme) and is a related company of Kiwibank Limited. Kiwibank is a distributor but is not an issuer of the Scheme. Investments made in the Scheme do not represent bank deposits or other liabilities of Kiwibank and neither they nor any other person guarantees the repayment of members’ interests in the Scheme or the payment of any earnings or returns on investment in the Scheme. Investments in the Scheme are subject to investment and other risks, including possible delays in payment of withdrawal amounts in some circumstances and loss of investment value.

A minimum deposit of 10% is required for a Kiwibank Welcome Home Loan. A Welcome Home Loan - Lenders Mortgage Insurance fee may apply. KiwiSaver, Kiwibank Limited and Welcome Home Loans terms and conditions (including lending criteria), fees and charges apply. For loans of over 80% of the property’s value, all banks including Kiwibank are subject to Reserve Bank restrictions.

*The calculators should be treated as a guide only. It does not take into account all of your individual circumstances and is not financial advice.